Bristol-Myers Squibb (NYSE:BMY) Declares $0.62 Quarterly Dividend

Bristol-Myers Squibb (NYSE:BMY) announced a quarterly dividend on Monday, March 3rd, RTT News reports. Shareholders of record on Friday, April 4th will be paid a dividend of 0.62 per share by the biopharmaceutical company on Thursday, May 1st. This represents a $2.48 annualized dividend and a yield of 4.14%.

Bristol-Myers Squibb has increased its dividend payment by an average of 6.4% annually over the last three years and has raised its dividend annually for the last 16 consecutive years. Bristol-Myers Squibb has a dividend payout ratio of 40.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bristol-Myers Squibb to earn $6.09 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 40.7%.

Bristol-Myers Squibb Trading Up 0.4 %

BMY opened at $59.85 on Tuesday. Bristol-Myers Squibb has a one year low of $39.35 and a one year high of $61.10. The company has a market cap of $121.45 billion, a P/E ratio of -13.54, a PEG ratio of 2.07 and a beta of 0.45. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.15 and a current ratio of 1.25. The business’s 50-day simple moving average is $57.20 and its 200-day simple moving average is $54.86.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 13.93% and a negative net margin of 18.53%. As a group, equities research analysts expect that Bristol-Myers Squibb will post 6.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the stock in a transaction dated Friday, February 14th. The stock was acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the completion of the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. This trade represents a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. Truist Financial raised their price target on Bristol-Myers Squibb from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Daiwa America raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Morgan Stanley raised their price target on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Jefferies Financial Group raised Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their price target for the company from $63.00 to $70.00 in a report on Monday, December 16th. Finally, Daiwa Capital Markets raised Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $57.86.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.